Albert had borrowed Rs 2 lakh from the Peravoor branch of Kerala Bank. (Representational)
A 73-year-old dairy farmer was found hanging at his residence in Kolakkad, in this north Kerala district on Monday, police said.
The police suspect that it was a case of suicide, and M R Albert Mundakkal took the extreme step after a bank served him an attachment notice due to default on repayments.
Albert, a long-time president of the Kolakkad Diary Cooperative, had borrowed Rs two lakh from the Peravoor branch of Kerala Bank by pledging his property.
The bank, noticing the repayment defaults, recently served him with an attachment notice, setting the repayment deadline for Tuesday.
Sources said that Albert had sought financial assistance from Kudumbashree (an all-women network under the Kerala government) on Sunday, but his efforts were unsuccessful.
The impending deadline and financial pressure seemingly led him to take the extreme step, they added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)